Exercise 9-2 (Algo) Prepare a Report Showing Revenue and Spending Variances [LO9-2] Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 8,000 $ Revenue ($4.15q) 33,200 Expenses: Packing supplies ($0.30q) 2,400 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,200 + $0.509) 6,200 Shipping ($0.609) 4,800 Utilities ($1,290) 1,290 Other ($460 + $0.019) 540 Total expense 18,430 $ Net operating income 14,770 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 $ Revenue 26,800 Expenses: Packing supplies 2,570 Oyster bed maintenance 3,060 Wages and salaries 6,610 Shipping 4,530 Utilities 1,100 Other 1,160 Total expense 19,030 Net operating income $ 7,770